WASHINGTON (dpa-AFX) - Charah Solutions, Inc. announced it has launched an initial public offering of 7,352,941 shares of its common stock at an anticipated initial offering price between $16.00 and $18.00 per share. Of the 7,352,941 shares of Charah's common stock to be sold in the offering, Charah is offering 5,294,117 shares and the selling stockholders are offering 2,058,824 shares.
The shares have been authorized for listing on the New York Stock Exchange under the ticker symbol, CHRA, subject to official notice of issuance. Charah expects to use the net proceeds from the offering to repay borrowings outstanding under its term loan and the remaining net proceeds for general corporate purposes.
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